retirement planning

Reading the Economic Tea Leaves

An important retirement planning skill is having the ability to "sniff out" the future direction of various factors, such as inflation and interest rates for their potential impact on future household spending and savings efforts. "Reading the tea leaves" is a folk lore expression related to the practice of attempting to divine the future from the display of loose tea leaves at the bottom of a cup.

Optimizing Your RRIF

Registered Retirement Income Funds (RRIFs) are one method of drawing an income from Registered Retirement Savings Plans (RRSPs) in retirement. There are a few things to consider to get the best value from your retirement savings with RRIFs.

For many Canadians, RRSP savings will be the major source of their retirement income. The main concern for most is the risk of outliving their money. Another priority for many retirees is minimizing income taxes.

You've retired. Now what?

Canadians are living longer, healthier lives. According to Statistics Canada (2017), the average life expectancy is 80 years for men and 84 years for women. This means your retirement years may almost equal your working ones. Family therapist Rhonda Katz suggests taking some time before retirement to identify what you find enjoyable in life and thinking of ways to sustain that happiness level. She also says to honestly answer the following questions:

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